STA In The News

Should you set a minimum asset requirement when considering whether to take on a new client? Are some clients just too small to be bothered with? It’s a question that vexes more than a few certified financial planners, or CFPs, with strong opinions on both sides of the issue.

When you invest in a company, there is always the chance that the business could enter a merger and acquisition deal that impacts your potential financial return. Regardless of which type of deal it is, it’s natural to worry about the health and sustainability of your investment. Is it safe to keep your money there, or is it better to cash out your share in case things go wrong?

Being a business owner is exciting, but it comes with its fair share of challenges. One of those challenges is the immense financial risk you assume when your business is your primary source of income. Should your venture fail, your livelihood and your personal finances could be in serious danger — unless you have a backup plan.

If your kids think they’ll be able to retire by 60, reality bites. A new report suggests lots of Millennials think that’s a reasonable goal, but experts say Millennials and younger will live much longer than previous generations. Michael Smith at Houston’s STA Wealth Management says Millennials aren’t known for their savings. “I think the number one reason for that is they’re carrying a significant amount of debt and predominantly that debt is student loan debt.” Smith says the kids need to buckle down.

Just like a doctor who pops outside for a cigarette break, advisors sometimes develop bad habits in their own financial lives. Although they do their utmost to hammer home the importance of proper planning, advisors don’t necessarily follow their own words of wisdom. They can fall victim to the same behavioral biases as their clients and end up making questionable financial decisions.

It’s not uncommon for those nearing retirement to become nervous about their nest egg, concerned it won’t be sufficient. This has led some savers to pursue self-directed IRAs, an individual retirement account that you control with investments of your own choosing. These IRAs are often invested in real estate, private mortgages, precious metals and private company stock. But with the increasing appearance of bitcoin and other cryptocurrencies in these retirement accounts, the Securities and Exchange Commission has issued a new warning.

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